about us | newsletter | contact | archive | members area
Ana Maria Icatoiu, Smart Eco Plus
There are laws which have been under discussion for years - not healthy for the market»
  News:      POLITICS   |   ECONOMICS   |   ENERGY   |   INVESTMENTS   |   APPOINTMENTS   |   GREEN   |   INFRASTRUCTURE   |   REAL ESTATE   |   AGRIBUSINESS   |   DRIVING   |   CITY LIFE   |   EVENTS   |

Black Sea Oil & Gas to receive additional investment from EBRD

Black Sea Oil & Gas announces that the European Bank for Reconstruction and Development has become a minority shareholder in the company. EBRD will receive one board seat as part of the investment.

2017-11-29 10:27:22

The transaction marks a significant milestone for BSOG as it approaches Final Investment Decision in the Midia Gas Development project. MGD will consist of five offshore production wells, a subsea gas production system, an offshore production platform, a 126 km offshore and onshore gas transmission pipeline and an onshore gas treatment plant.

"With this landmark equity transaction, our intention is to support the development of the private upstream oil and gas company in Romania," said Matteo Patrone, EBRD Regional Director for Romania and Bulgaria. "We are also committed to providing assistance to the Romanian government in further improving the country's legal and regulatory framework for offshore oil and gas operations and building regulatory capacity for the whole industry."

BSOG is a Romanian-based independent oil and gas company, targeting exploration and development of conventional oil & gas resources. The company's current portfolio is made up of XV Midia Shallow Block and XIII Pelican Block concession in the Romanian Black Sea where it is the operator and holds a 65 per cent interest. The company is looking to fulfil its mandate of developing its existing discoveries (Ana and Doina) in the Black Sea, undertaking further exploration and appraisal activities in the Black Sea and pursuing further opportunities in Romania as well as in the region.



COMMENTS
There are 0 comments:

 
ADD A COMMENT
 
Name
Email
Comment
Validation Code
   
 
 

0 Comments  |  5481 Views
Daily Info
President Iohannis: Interconnection projects revealed at Three Seas Initiative summit are a top level political signal

The list of priority interconnection projects presented within the Summit of the Three Seas Initiative is "a top level political signal", on Tuesday stated Klaus Iohannis, in ...

Vodafone to lay off 1,700 service center employees in Romania, India and Egypt

Vodafone, one of the biggest telecom groups in the world, will lay off 1,700 employees from its service centers in Romania, India and Egypt, in this financial year, the group'...

European Property Federation elects Liviu Tudor as new President

The European Property Federation Managing Committee elected Liviu Tudor, CEO of Genesis Property and President of the Romanian Association of Building Owners, as President of ...

Commisioner Cretu: Romania has a high level of women representation in the digital sector

Romania is one of the countries of the European Union with a high level of representation of women in the digital sector, said European Commissioner for Regional Policy, Corin...

Romania gets 450 million Euro loan from EIB for rural development programme

The European Investment Bank (EIB) is lending 450 million Euro to Romania to finance its national contribution to the implementation of the Romanian Rural Development Programm...

 
 
   
advertising

advertising

advertising

advertising

advertising

More on News
President Iohannis: Interconnection projects revealed at Three Seas Initiative summit are a top level political signal

The list of priority interconnection projects presented within the Summit of the Three Seas Initiative is "a top level political signal", on Tuesday stated Klaus Iohannis, ...

President Iohannis to hold CSAT meeting on September 4 for budget revision

Romanian president Klaus Iohannis has summoned on September 4 the members of the Supreme Council of National Defence (CSAT) to approve the budget revisions for institutions...

1 Comment

Anca Jurma named interim chief prosecutor of Romanian anti-corruption agency

Prosecutor Anca Jurma has been named the interim chief prosecutor of the Romanian anti-corruption agency (DNA) following an order by the General Prosecutor Augustin Lazar. ...

1 Comment

New Government reshuffle in Romania to take place in October

A new reshuffle of the Government is supposed to take place in early October, according to the Socialist-Democrat Party (PSD) Liviu Dragnea. He said that, together with the...

Ambassador Klemm: Women are directly affected by digital exclusion

Women are directly affected by digital exclusion, US Ambassador to Bucharest Hans Klemm said Monday at the opening of the Digital Romania International Forum.

TransferGo receives electronic money license

TransferGo, the international fast online transfer company, has been granted its e-Money license from the Bank of Lithuania. The license allows electronic money storage & t...

1 Comment

Romania could remove special excise on fuels

Romania's Finance Ministry could remove the special excise on fuel, according to the minister Eugen Teodorovici, cited by Mediafax.